Allstate Corp. (ALL) reported that its first-quarter net income fell 7.6 percent to $709 million, or $1.47 per share, down from $766 million, or $1.53 per share in 2012.
Operating income was $2647 million, or $1.35 per share, down from $710 million, or $1.42 per share in the first quarter of 2012.
Catastrophe losses during the current quarter spiked to $359 million from $259 million in the year-ago period.
Meanwhile, consolidated revenues for the quarter rose to $8.462 billion from $8.362 billion in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.30 per share on revenues of $6.60 billion for the quarter. Analysts' estimates typically exclude special items.
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